In this speech, Andrew discusses growth in the economy and why it matters. He poses five questions on what we should do to tackle issues of potential supply, and support future growth in the economy. Read Andrew's speech here: https://b-o-e.uk/3CtVupp
Bank of England
Banking
As the UK's central bank we work to ensure low inflation, trust in banknotes and a stable financial system.
About us
The Bank of England is the central bank of the United Kingdom. Sometimes known as the “Old Lady” of Threadneedle Street, the Bank was founded in 1694 with a founding charter that stated its purpose was to “promote the public good and benefit of our people”. The Bank of England’s purpose today reflects that vision first articulated by our founders. Our mission: to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.
- Website
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http://www.bankofengland.co.uk
External link for Bank of England
- Industry
- Banking
- Company size
- 1,001-5,000 employees
- Headquarters
- London
- Type
- Government Agency
- Founded
- 1694
Locations
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Primary
Get directions
Threadneedle Street
London, EC2R 8AH, GB
Employees at Bank of England
Updates
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Catherine L. Mann reflects on the last forty years of the ‘Great Moderation’. She compares and contrasts arguments that ‘good policy’ or ‘good luck’ may have brought about more macroeconomic stability. She then discusses the likely sources of higher volatility in the future, including climate change, global trade fragmentation, financial market volatility, and policy volatility. Catherine concludes by outlining the appropriate monetary policy strategy in a more volatile world. Read Catherine's speech here: https://b-o-e.uk/415cXir
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Are you a school leaver or a university student? Applications are now open for our Apprenticeship, Internship, and Black Future Leaders programmes. Our Future Talent programmes are designed to provide you with the skills and knowledge needed to build a rewarding career at the heart of the UK financial industry. Join us to find a supportive work environment, where your development is our priority. Find out more about our Internship, Apprenticeship and Black Future Leaders programmes here: https://b-o-e.uk/48RbL3P
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Congratulations to Ammara Sidick, Data Analyst at the Bank of England, for winning the Charity, Voluntary & Public Services category award at the Multicultural Apprenticeship Awards.
👏 We are thrilled to celebrate some of our amazing Northeastern University London #apprentices, who were recently recognised at the 9th annual Multicultural Apprenticeship Awards for their outstanding accomplishments. 👥 This event seeks to showcase the talent and diversity within furthering education, honouring those working hard to overcome adversity and achieve their goals through apprenticeships. 🏆 Congratulations to Ammara Sidick (Winner- Charity, Voluntary & Public Services category) and Jasmine Ale (Winner- Health, Medical & Social Care category). ✨ We also want to recognise and congratulate Burhan Ali and Dhiral Pandya who both received nominations in the Digital & Technology category. Well done on these fantastic achievements! #Northeastern #NortheasternUniversityLondon #NULondon #Apprentiship
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Congratulations to Ben Martin, Director of Strategy, Risk & Operations at the Bank of England, for being listed as a Top Executive on the 2024 Outstanding Role Model Lists!
📣 The 2024 Outstanding Role Model Lists supported by YouTube have landed! We're so excited to unveil this year's global changemakers and the amazing work they are doing to drive LGBTQ+ inclusion in business! 🌈 These Lists champion LGBTQ+ Executives, LGBTQ+ Future Leaders and Advocates for LGBTQ+ employees. All of this year's featured Role Models are driving much-needed, impactful work and are at the forefront of ensuring global organizations become more inclusive by keeping LGBTQ+ inclusion at the top of the agenda. First up - the Top 100 Outstanding Executives! Take a look at where our Outstanding Executives are from, learn more about the top initiatives being driven for LGBTQ+ inclusion and meet this year's top 5 - David Hynam, Julia Hoggett, David Furnish, Jen Carter and Emily Hamilton ✨ Learn more about all of this year's Executives here: https://lnkd.in/ebUPXNw5 Throughout the day we will be sharing insights from some of this year's Role Models on our YouTube channel here including Executive Leaders like Michael Palmisano, Maggie Lower 🏳️🌈, and John McNain: https://lnkd.in/e3f55NbY All the Lists have now been announced! ✨ Top 40 Outstanding Advocates: https://lnkd.in/ezU4Y5Ay ✨ Top 100 Outstanding Future Leaders: https://lnkd.in/eKjiuv9Y Congratulations to all of those featured in our 2024 Outstanding Role Model Lists supported by YouTube! Thank you for all the incredible work you do to drive LGBTQ+ inclusion in business. If you're keen to take part in our 2025 Outstanding Lists you can now send in your nominations for the new year here: https://lnkd.in/eariNtun If you'd like to stay up to date on all of our Lists - Empower, Heroes, Outstanding and Enable, sign up to our mailing list to be the first to hear when news drops: https://lnkd.in/eRtCJ_sz #DEI #Diversityandinclusion #OUTRoleModels24 #Allyship #LGBTQInclusion #LGBTQLeaders #SeniorLeaders #RoleModels #BusinessNews #Advocacy #Leadership
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The best contribution the Bank can make to support economic growth and people’s prosperity is to make sure we have low and stable inflation. If inflation remains close to the target, we expect to reduce interest rates further. But there is a risk that inflation could be higher than expected. Despite overall inflation being at target, prices of some services are still rising too quickly. We need to be careful not to cut rates too quickly or too much, so that inflation remains low and stable for years to come. https://lnkd.in/eqDwPGku #MonetaryPolicyReport
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The progress we have made on inflation meant we were able to cut interest rates to 5% in August. And we have cut rates again today, to 4.75%. Nevertheless, inflation is likely to rise to around 2.75% over the next year, as household energy prices provide less of a drag on inflation than they have done in recent months. Inflation is expected to fall back to the 2% target after that. We can’t rule out more global shocks that keep inflation high though. For example, developments in the Middle East could increase inflation by causing oil prices to rise. https://lnkd.in/eqDwPGku #MonetaryPolicyReport
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Our job is to make sure that inflation stays at our target. Inflation has fallen sharply since 2022. Energy prices are around 25% lower than their recent peaks, and food price inflation has slowed from just below 20% 18 months ago to less than 2% in September. Higher interest rates have helped slow down price rises, such that inflation has been close to the 2% target since May. Higher interest rates work by reducing demand for goods and services in the economy. This helps slow the rate of inflation. We have cut rates again today, to 4.75%. https://lnkd.in/eqDwPGku #MonetaryPolicyReport
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Following today’s decision to cut interest rates to 4.75%, Andrew Bailey, Governor of the Bank of England, said: "Inflation is just below our 2% target and we have been able to cut interest rates again today. We need to make sure inflation stays close to target, so we can't cut interest rates too quickly or by too much. But if the economy evolves as we expect it's likely that interest rates will continue to fall gradually from here."
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